What does $1 million buy you in Sydney?

What does $1 million buy you in Sydney?

It's the most expensive real estate market in the country - so what can you actually buy in Sydney with a budget of $1 million?

Raine & Horne

Pictured: 171 Commonwealth Street, Surry Hills. For sale by George Mihaelidis of Raine & Horne, as seen on Luxury List.

With a median house price of over $1 million, Sydney is easily the exxiest property market in the country.

What was once a millionaire's budget is now the territory of the average first home buyer.

But even with a hefty budget of $1 million, first home buyers would still struggle to get a foot on the property ladder in some parts of Sydney.

If it's a house you're after, think again. Freestanding houses in any of Sydney's eastern suburbs generally attract a median house price of well over $2 million, so if it's the leafy eastern suburbs you've got your heart set on, set your sights on apartments.

For $1 million, a two-bedroom apartment with a balcony and a car space is about as good as it gets.